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Warren would sell her own mother into sex slavery for a few bucks. Wouldn't trust her in a padded cell.

Schiff is a real smart guy. I'd follow him over Wolff any day.

Also, I'm not on the Trump train. Just because I disagree with leftists doesn't mean I agree with the right. There are many directions and many parties out there and even, gasp, independent thought.

I am a liberal democrat so I tend to agree with Warren on most issues. She is very smart, but she may be evil as you say. I never have done any research on her. I could not disagree with anything Schiff said in the video, I am just not a follower of his.

As far as the Trump train, I am referring to people who think the economy is the best ever, it will not crash for many years, housing will keep going up, etc. Here are just a few posters that I would put on the Trump train regardless of their political affiliation.

This is pretty much the problem. People don't do any real research into these people, hear a few sound clips, agree with them, and then throw their support behind them.

Then we end up with Clinton, Bush, Obama, Trump and all their despicable congressmen.

We'll get the occasional Rand Paul who actually, for the most part, follows the constitution and tries to do what he's meant to do in office. But he gets railroaded by all the losers appointed by people completely oblivious about who they're voting for.

I hear you brother, I worked for a startup in Redwood City between 2000-2002 (I am tech and was an Oracle DBA at the time), and even back then I was making $120k and still ended up moving to Phoenix (they opened an office there), kept my bay area salary and was living large. Like an idiot though instead of saving money all I did was party and live it up and I blew a lot of money on sports cars, trips, wild Vegas weekends, etc. At this point I would never even consider moving back to the Bay Area even though I could probably get close to $200k with my skills and experience (that's about where some of my co-workers are that I worked with at the time). It's not worth it to me.

That said, I don't doubt that the lower income people are the people leaving CA and moving to places like Vegas, but I do think there's a certain amount of middle income people ($100kish) who just want a better standard of living than they could get in the large metro areas of CA. Yet people keep claiming the only people moving to Vegas from California are the dirt poor. Even if that were true, honestly, for the lower income people that do leave CA, pack up and move to a new state and trying to start a new life and get a new job and maybe improve their situation.... I have to give them a lot of credit. That can be a scary thing. They could easily stay in California and join the millions of others on welfare and go nowhere. Why move to Vegas when you can stay in California where the weather is great, they get free everything and they've got no incentive to do anything but stay put. California loves their welfare constituents, and if you're there illegally you can practically write your own ticket, lol. So maybe I am the odd man out, but I am not going to put people down who are trying to better their situation, whether they are low income or not. Maybe in the end they will end up leaving but I am not going to knock them for trying...

I donít doubt that there are quite a few higher income people from CA who are moving here. My development is still under construction and most of the people buying are from CA and these houses are more than double the median house price here in LV. Just looking at the other developments near me those homes are even higher in price. Again, itís anecdotal not really any valid data behind it.

There is an element of people who move, who for one reason or another to places like Vegas which represent the fresh start and land of opportunity they seek. These are lower middle income people who are less educated and have little skills and still hold a belief that their life will be better here, just because they watch TV and you can strike it rich here with little or no effort.

Florida is the equivalent of LV on the east coast. How many crass and low intelligence people I knew thought moving to FL would solve all of their problems. When in fact all it did was transfer their problems to a more concentrated pool of people who lacked self awareness and who would be fighting each other over the most inane things since they could not change who they were fundamentally.

I saw this in my fathers rental properties and other landlords in the area - where it was decent affordable housing, yet it was a constant struggle to find good tenants who could pay rent on time and hold a basic job.

Every large city and urban area is becoming more bifurcated between wealthy people and lower middle income people. The challenge is that you donít need an education to be somewhat successful here, unlike most cities. That draws a cohort of people who, by and large represent some of the worst behaviors.

I am a liberal democrat so I tend to agree with Warren on most issues. She is very smart, but she may be evil as you say. I never have done any research on her. I could not disagree with anything Schiff said in the video, I am just not a follower of his.

As far as the Trump train, I am referring to people who think the economy is the best ever, it will not crash for many years, housing will keep going up, etc. Here are just a few posters that I would put on the Trump train regardless of their political affiliation.

Airics, ddrhazy, jonathanLB, LVmensch, Commander666, etc.

I may be a jerk but if you didn't catch my political leaning even though you recognize my name...well anyways. I caucused for Bernie in 2016 and will be doing so again in 2020, but nice to know your thoughts on me.

I may be a jerk but if you didn't catch my political leaning even though you recognize my name...well anyways. I caucused for Bernie in 2016 and will be doing so again in 2020, but nice to know your thoughts on me.

I am sorry you took it that way as it was not what I intended. I will try to clarify what I mean. I do not dislike you or anyone else I mentioned in my last post. Usually, people on the left take a pessimistic view of the economy when a republican is in office, and vice versa. It is different this time as I am seeing both sides taking an optimistic view, hence the Trump train.

I had a long conversation yesterday with the man who cleans the building where I work. He was born in Mexico. He and his family of 5 are all democrats. He claims he is saving $7,000 a year on his taxes since Trump became in office. He told me he is going to vote republican for the first time ever in 2020 because of Trump, even know he disagrees with him on everything except for economics. He said he is getting into huge fights with both his wife and kids over this. What I am seeing is very, very scary as this is not the only example I have seen.

Interesting how you phrase it. I would suggest "Welcome aboard just follow the rules."

And we have a reasonable collection of Blacks and Hispanics.

In an area with thousands and thousands of vacant acreage there is no reason to drive high unless it happens to fit the area. If a drive was underway to convert the Naked City or Industrial to high rise I would think it a reasonable idea. Doing the same in the NW or good Henderson or Summerlin is basically dumb.
Creating a problem where none exists.

I was born and spent many years in upper Manhattan and the West Bronx. Literally born in sight of the Empire State Building of two who were also born in Manhattan. So I do not lack urban credentials. In fact at one point I was as good as anyone in the world in navigation the NY Subway. But that model requires an infrastructure that few places can manage. And it will be a disaster in the sprawling West.

And we have a reasonable collection of Blacks and Hispanics.

I sent the above to NAACP to analyze . I don't want to accuse another of Ra...M unles I have valid reason to.

I did read them, despite those sources being the National Enquirers of Economic analyses.

At the same time, I wonder if you will read my reply. I suspect I’m on your ignore list.

Quote:

Originally Posted by Merry Lee Gather

Warren wrote a book related to the last crash three years before it happened and she was right. She's a Harvard educatedWall Street ball buster in this particular area of expertise.

Elizabeth Warren is many things. However:

1. Warren is NOT an economist.
2. Warren is INCORRECT in her assertions regarding the root cause of the Great Recession precisely because she is not an economist. The recession’s roots trace back to the First Clinton Administration and actions taken by then Secretary of Housing and Urban Development Henry Cisneros and by the disgraced Roberta Achtenberg, then Assistant Secretary of HUD for Fair Housing and Equal Opportunity. We can have a discussion about what they did if you like.
3. Warren WAS NOT EDUCATED AT HARVARD. She graduated from the University of Houston and Rutgers Law School.
4. Warren’s area of focus is BANKRUPTCY law.

IIRC, your husband is a physician. If a man has prostate cancer and consults a surgeon, that surgeon will likely recommend surgery. If that same man consults a radiologist, that radiologist will likely recommend radiation therapy. An oncologist will likely recommend chemotherapy.

Analogously, Janet Yellen is a Regulator. It is not surprising that she says, in the article you cited, in essence, “More regulation is good and less is bad.”

The same is true for Warren: whenever she sees an issue, her knee-jerk reaction is “we need more regulation. Wait. What’s the issue again?” She’s a broken record, where the answer is always “Wall Street Is Evil, Corporations are Evil, Capitalism is Evil, Equal Opportunity is insufficient unless it results in Equal Outcome, Republicans are Evil and Conservatives are Evil.” In her world view, every single person to her political right fits inside Hillary Clinton’s infamous “Basket of Deplorables.”

Quote:

Both Warren and Yellen are saying the same thing is happening with deregulation again and subprime mortgages. Yellen is the former fed chair for ffs. Ya'll the ones that made it political cause you see a name you don't like. Sheesh. Just discount something right away without even knowing what it's about.

For the record, I believe I have read almost every academic publication authored by Janet Yellen. I’ve read her PhD dissertation. I’ve read many of her non-published research papers and unpublished drafts posted for comments. I have great respect for her as an economist and a regulator. I also have read much of the work of Yellen’s husband, George Akerlof, who won the 2001 Nobel Price in Economics. What I wouldn’t give to listen in on their economics discussions!

The Great Recession was, as I wrote above, the end result of regulatory actions undertaken and orchestrated by HUD in conjunction with regulators of banks and other mortgage originators. Whereas Warren decries shoddy underwriting standards, she fails to mention the top-down requirements of HUD and Bank regulators forcing those banks to relax safe underwriting standards and issue loans to people the banks would not otherwise lend to.

We can discuss this if you like — either here or in the Economics Forum.

Havent read a thing of Yellen. All I could see was she was just a tool of Obama.

I must disagree with you on that. She is a serious, data-driven economist.

For example, I agree with Yellen when she said:

On June 27, 2017, Yellen generated controversy when she claimed that there will not be another economic crisis "in our lifetime." Yellen explained that this assumption can be made due to her belief that banks are "very much stronger" as a result of Federal Reserve oversight.

The oversight of which she spoke are larger reserve requirements — that is reserves higher than the regulators originally specified. That is, the regulators originally were wrong.

She is much more of a Keynesian than is optimal for a Fed Chairman.

Last edited by RationalExpectations; 07-24-2019 at 06:55 AM..

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